Atom Investors LP Invests $4.88 Million in Cactus, Inc. $WHD

Key Points

• Atom Investors LP opened a new position in Cactus, Inc. during the fourth quarter, buying 106,891 shares valued at about $4.88 million.
• Cactus posted a strong quarter, with EPS of $0.70 topping estimates and revenue of $388.35 million beating expectations; revenue also rose 38.5% year over year.
• Analysts remain constructive on WHD, with a Moderate Buy consensus and a price target of $63, while the company also announced a quarterly dividend of $0.14 per share.

Atom Investors LP purchased a new position in Cactus, Inc. (NYSE:WHD - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 106,891 shares of the company's stock, valued at approximately $4,883,000. Atom Investors LP owned approximately 0.13% of Cactus as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Crawford Investment Counsel Inc. boosted its position in shares of Cactus by 13.2% in the 4th quarter. Crawford Investment Counsel Inc. now owns 151,136 shares of the company's stock worth $6,904,000 after purchasing an additional 17,614 shares in the last quarter. State of Wisconsin Investment Board raised its holdings in Cactus by 3.0% in the 4th quarter. State of Wisconsin Investment Board now owns 135,820 shares of the company's stock worth $6,204,000 after acquiring an additional 3,995 shares during the last quarter. Magnetar Financial LLC purchased a new position in Cactus in the 4th quarter worth approximately $333,000. Aster Capital Management DIFC Ltd raised its holdings in Cactus by 73.4% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 742 shares of the company's stock worth $34,000 after acquiring an additional 314 shares during the last quarter. Finally, Mariner LLC purchased a new position in Cactus in the 4th quarter worth approximately $254,000. 85.11% of the stock is owned by institutional investors.

Cactus Price Performance

Shares of WHD opened at $57.55 on Wednesday. The firm has a market cap of $4.61 billion, a PE ratio of 54.29, a P/E/G ratio of 2.30 and a beta of 1.37. The company has a current ratio of 2.61, a quick ratio of 1.71 and a debt-to-equity ratio of 0.01. The firm has a fifty day simple moving average of $56.79 and a two-hundred day simple moving average of $52.62. Cactus, Inc. has a 1-year low of $33.20 and a 1-year high of $64.30.

Cactus (NYSE:WHD - Get Free Report) last announced its earnings results on Thursday, May 7th. The company reported $0.70 earnings per share for the quarter, beating analysts' consensus estimates of $0.65 by $0.05. The business had revenue of $388.35 million during the quarter, compared to analyst estimates of $380.42 million. Cactus had a net margin of 6.17% and a return on equity of 15.43%. The company's quarterly revenue was up 38.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.73 EPS. On average, equities analysts anticipate that Cactus, Inc. will post 2.85 EPS for the current year.

Cactus Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Stockholders of record on Monday, June 1st will be paid a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Monday, June 1st. Cactus's dividend payout ratio is 52.83%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on WHD shares. Citigroup boosted their price objective on shares of Cactus from $63.00 to $65.00 and gave the stock a "buy" rating in a report on Monday, May 11th. Barclays boosted their price objective on shares of Cactus from $62.00 to $70.00 and gave the stock an "overweight" rating in a report on Monday, May 11th. Stifel Nicolaus restated a "buy" rating and issued a $68.00 price objective (up from $66.00) on shares of Cactus in a report on Tuesday. Wall Street Zen lowered shares of Cactus from a "buy" rating to a "hold" rating in a report on Saturday, March 21st. Finally, Weiss Ratings upgraded shares of Cactus from a "hold (c-)" rating to a "hold (c)" rating in a report on Thursday, June 11th. Four analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Cactus has a consensus rating of "Moderate Buy" and a consensus price target of $63.00.

Insider Buying and Selling at Cactus

In other news, Director Michael Y. Mcgovern sold 12,000 shares of the company's stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $56.57, for a total value of $678,840.00. Following the completion of the sale, the director directly owned 15,990 shares in the company, valued at $904,554.30. This represents a 42.87% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Alan Semple sold 10,206 shares of the company's stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $56.62, for a total value of $577,863.72. Following the completion of the sale, the director owned 29,444 shares of the company's stock, valued at $1,667,119.28. This trade represents a 25.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 12.91% of the company's stock.

Cactus Company Profile

Cactus, Inc, together with its subsidiaries, designs, manufactures, sells, and leases pressure control and spoolable pipes in the United States, Australia, Canada, the Middle East, and internationally. It operates through two segments, Pressure Control and Spoolable Technologies. The Pressure Control segment designs, manufactures, sells, and rents a range of wellhead and pressure control equipment under the Cactus Wellhead brand name through service centers. Its products are sold and rented primarily for onshore unconventional oil and gas wells for drilling, completion, and production phases of the wells.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.